London market easy in mixed trading

Press, Volume CXV, Issue 34026, 15 December 1975, Page 20

London market easy in mixed trading

Share prices on the London Stock Exchange see-sawed last week, hut the over-all trend was easier, and the F.T. index lost 5 points on the week, after sliding more than 10 points at one stage.

Australian shares also back-tracked, as investors adopted a wait-and-see attitude to Saturday’s Federal election. One bioker said that despite news of opinion polls showing gains for the Liberals, buyers remained cautious. When Mr Whitlam and his

; Government were sacked ; i from office last month, the Australian market got one of Jits biggest boosts since the : mining boom days of the , late 60’s. “The investment premium makes Australian shares a J; risk to investors, and most ; are not willing to gamble on J the result of the election,” said the broker. But the Australian sectori ‘moved ahead on Thursday,; in a final flurry before the! [election. However, on Friday trad-i ling was quiet again, and even Woodside-Burmah s oil! land gas show failed to! ispread beyond the oils. One broker reported that jthe London market had fully [geared itself to a Liberal - . Country Party success in the elections, and had reacted accordingly in the past ■ couple of weeks.

The rush was now over, l.e said, and he expected buyers to move again next week if the anticipations of a coalition election success were realised. Closing prices on Friday of a selection of stocks were;—

Ampol. 62; A.N.Z., 426 5 (xd); N.S.W., 6721 (xd); 8.H.P., 725: Dalgety, 219 J; Elder Smith. 219 - Lloyds Bank. 232 J: Mt Lyell, 90; Challenge. 1504; Nth B.IL, 154; Plessev. 72, R.T.Z. ord.. 182, and regd., 173; B.H. Sth. 190: Transdev.. 50: West. Mining, 157 J; 8.A.T., 317 J; Distillers, 1263: Glaxo, 3624; I.C.L, 320: Marks and Spencer. 97; P and O, 98J; Prudential “A.” 123; Reed Int., 2384; Shell Transport. 3644; Unilever, 410: War Loan. 23g.